Rupee gains as sentiment improves
Mumbai: The rupee appreciated by 18 paise on Wednesday to close at 45.37/3750 per dollar on the back of improved market sentiment fuelled by various international developments. On Tuesday, the domestic currency had closed at Rs.45.55 to the dollar.

Forwards Market: The six-month premium ended at 2.75 per cent (2.80 per cent) and the premium for one-year ended at 2.25 per cent (2.25 per cent).

G-Secs: The 7.38 per cent 2015 paper traded between Rs103.15 and Rs103.28 compared to its closing levels of Rs103.20 yesterday.

Call Rates: surged high to 5.25 per cent in the inter-bank market

CBLO market:156 trades for volumes of Rs5,115 crore in the rate range of 5-5.5 took place.
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State loans remain undersubscribed
Mumbai: The Reserve Bank of India's on tap sale' of the 7.36 per cent State Development Loan, 2014 in respect of eighteen states, for an amount of Rs6,200 crore, which closed today, was undersubscribed. The central bank received total subscriptions of Rs5,621 crore of which it has retained Rs5,084 crore, said an RBI press release.

The 'on tap sale' started for 25 State governments on Tuesday, of which the sale of seven States - Goa, Gujarat, Himachal Pradesh, Karnataka, Madhya Pradesh, Tamil Nadu and West Bengal - were closed on Tuesday.
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Tata Motors and Andhra Bank tie up for car loans
Hyderabad: Tata Motors has nominated Andhra Bank as the `preferred financier' for financing purchases of its passenger cars, as per a memorandum of understanding which it has signed with the bank.

Under the tie-up, purchasers of Tata Motors' passenger car range would be offered loans at 9.25 per cent interest rate for periods of up to 36 months, and 9.5 per cent for above 36 months.

According to the Andhra Bank top brass, the interest rates were reduced by 0.5 per cent for both tenures and would be applicable on a daily reducing balance. The bank has financed 9,000 two-wheelers and 1,000 four-wheelers during the first half of current fiscal and its vehicle loan portfolio stood at around Rs60 crore.
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